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Document Preview Asset Acquisition Agreement |
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Title: |
Asset Acquisition Agreement |
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Date: |
2006 |
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Size: |
Preview shows 4KB of 26KB total |
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Price: |
$40 |
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ID: |
#2174105 |
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Asset Acquisition Agreement
by and between
Oxford Investments Holdings Inc.
and
Christopher Webster
This Agreement by and between, Oxford Investments Holdings Inc. a corporation
organized and existing pursuant to the laws of the province of Toronto, Ontario,
Canada (the "Corporation) with an address at 1315 Lawrence Ave East, Suite 520,
Toronto Ontatio, M3A 3R3 (hereinafter referred to as the "Buyer"), and
Christopher Webster with an address at 50 Portland St., Toronto, Ontario Canada
(hereinafter referred to as the "Seller");
Witnesseth
Whereas Seller wholly owns and operates a business under the name of Webstar
Internet Solutions ("Webstar") and desires to sell all of the assets of Webstar
hereinafter listed to the Buyer; and
Whereas Webstar provides a unique online payment system specifically designed
for online gaming; and
Whereas this payment system is backed by tier one Canadian banking and allows
Visa, Mastercard and American Express to be used in a totally approved manner;
and
Whereas the Buyer desires to purchase all the assets of Webstar and operate
Webstar as a wholly-owned subsidiary of Buyer upon the terms and subject to the
conditions hereinafter stated; and
Whereas this purchase and sale is limited to the assets hereinafter specifically
set forth, and it is the intention of the parties that Buyer shall not assume
any liabilities of the Seller or Mr. Webster.
NOW, THEREFORE, the parties hereto in consideration of the mutual covenants,
agreements, and undertakings hereinafter set forth, do hereby agree as follows:
1
{PAGE}
1. Sale of Assets:
For the sum of one million (1,000,000) shares of the Corporation common stock,
no par value (the "Stock"), the Seller agrees to sell and Buyer agrees to
purchase all of the rights, title, interest, in and to Webstar and its assets,
including all goodwill, technologies, source codes, developed products, all
business dealings, and relationships, patents and trademarks all as set forth
and described in Exhibit A attached to the attached Bill of Sale.
The purchase price will be paid with one million (1,000,000) restricted shares
of the Corporation common stock no par value.
2. Covenant Not to Compete
Seller covenants that after the closing date of this Agreement, he shall not
solely or jointly with any other person, firm, or corporation other than the
Corporation, either directly or indirectly, carry on, engage in, or be
interested in any manner in a business as conducted by or proposed to be
conducted by WebStar or similar to or related to the business conducted by
WebStar within the province of Toronto, Ontario for a period of two (2) years
from the date of this Agreement without the prior written consent of Buyer.
3. Representations by Seller
Seller jointly and severally covenants and represents:
a) That he is the sole owner of, and has good and marketable title to, all of
the assets including all goodwill, technologies, source codes, developed
products, all business dealings, and relationships, patents and trademarks all
as specifically enumerated in the attached Exhibit A to the Bill of Sale, free
and clear of all debts and encumbrances, and said assets shall be enjoyed by
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